AJ Bell is set to launch a new app-only investment platform called Dodl in the first half of 2022, with the aim to appeal in particular to new investors.
The platform will have an annual charge of 0.15%, with no commission for buying or selling investments and no tax wrapper charges.
At launch, it will offer an ISA, Lifetime ISA, Pension and General Investment Account, as well as shares in UK-listed companies, with US companies being added soon after.
In addition, there will be a range of ‘themed investments', which include funds focusing on areas such as technology, robotics, healthcare and responsible investing.
The fund range will also include AJ Bell's six multi-asset funds and its Responsible Growth fund. Customers investing in funds will also pay the annual charge of the underlying fund.
The app will sit alongside AJ Bell's existing consumer platform, Youinvest.
Andy Bell, chief executive of AJ Bell, said: "The intuitive investment journey and streamlined investment range will appeal particularly to those that are new to investing and want a simple way to manage their investments.
"With a low annual charge of 0.15%, no trading commissions and all the main tax-efficient products, Dodl will be amongst the cheapest and best value investment platforms in the market."
He added: "Our friendly monsters will guide people through the investment process with no jargon and introduce them to an investment range that is easy to choose from and caters for the investment needs of the majority of people."
